Prudential Financial, Inc. (NYSE:PRU) Given Consensus Rating of “Hold” by Analysts

Prudential Financial, Inc. (NYSE:PRU) has received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $126.33.

PRU has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th.

Prudential Financial Trading Down 0.1 %

Shares of Prudential Financial stock opened at $120.48 on Wednesday. Prudential Financial has a 1 year low of $100.60 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The business has a 50 day moving average price of $124.99 and a 200 day moving average price of $120.49. The company has a market capitalization of $42.89 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.87 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the firm posted $3.44 earnings per share. Sell-side analysts anticipate that Prudential Financial will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.32%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently modified their holdings of PRU. Ashton Thomas Securities LLC acquired a new position in Prudential Financial during the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Quarry LP boosted its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Prudential Financial during the 2nd quarter valued at $38,000. Finally, Tompkins Financial Corp increased its stake in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.